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Look for Shares of Cognizant Technology Solutions to Potentially Rebound after Yesterday's 1.24% Sell Off

By James Quinn

Cognizant Technology Solutions (NASDAQ:CTSH) traded in a range yesterday that spanned from a low of $56.42 to a high of $57.45. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $57.06 on volume of 2.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of Cognizant Technology Solutions on June 16th, 2016 by issuing a Downtrend alert when the shares were trading at $59.22. Since that call, shares of Cognizant Technology Solutions have fallen 3.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Cognizant Technology Solutions share prices have moved between a 52-week high of $69.80 and a 52-week low of $51.22 and are now trading 10% above that low price at $56.56 per share. The 200-day and 50-day moving averages have moved 0.1% lower and 0.23% higher over the past week, respectively.

Keywords: rebounders Cognizant Technology Solutions

Ticker(s): CTSH